Forgetting about Makuuta for a moment; Congratulations on...

Forgetting about Makuuta for a moment; Congratulations on producing around 5kg of saleable ? product in the Lab, how long did it take ? how much did it cost ? what is the expected buy-in cost of used magnets ? note: China are currently quoting US$70k/t contained NdPr for scrap !

Given that this plan to become a magnet Re-cycler seems to be the new direction, why is nobody asking where the CAPEX to build a full scale Refinery at Belfast coming from ? are we expecting a DFS on the full economics of this plan ?

Have they started looking for a suitable site to build one yet, construction should take about 18m0-2Yr
That's after going thru the Design, Planning approval and Permitting stages ~ 12mo-2Yr

Just on the Mine,

IF it does get into production, does anybody have any idea as to the Cost/Price transfer mechanism for the Concentrate it produces ? Specifically where will the Profits get reported; If they are going to export the concentrates to Belfast one might assume that a current book transfer price will be around US$30,000/t ~ Now MK-OPEX at around US$15t for 300gms MREC or US$50,000/t. So even if RE prices rise to forecasted levels, the Ugandan Government is probably not going to get anywhere near the Tax revenues it expects !!! Can I see another Burundi on the horizon !